PLUG Price Action: At last check, Plug Power shares were edging up 2.25% to $28.63. "We see the 60x multiple as fair since this result in 2025 should reflect an early stage of growth, where various market forecasts estimate 18% to 23% of world energy from hydrogen by 2050," Irwin said. Roth's $65 price target for Plug Power shares is based on a 60 times EV multiple on the firm's 2025 EBITDA estimate of $472 million for the company. The Green Hydrogen Production Incentives Act being discussed in the Senate, if enacted, will provide a production tax credit for green hydrogen, giving a large possible benefit to Plug Power, Irwin said. Check out Benzinga's Cleantech Small Cap Conference on April 22 to learn more!
"We expect Plug mgmt to be working fervently to lock in third party offtake agreements for Green Hydrogen, as this would offer a solid indicator of the true market value for Green Hydrogen and the potential for external sales versus internal consumption."Ĭompanies around the world are shifting gears towards clean technology to adhere to more sustainable business practices.
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See also: How to Buy Plug Power (PLUG) Stock The expectation is premised on the company's application for $520 million in funding from the federal government to support construction of five new green hydrogen facilities, he said. The analyst said he's bracing for a potential green hydrogen offtake agreement from the company in the near-term. Our investment research resources are provided to help you make informed investment decisions.
The Plug Power Takeaways: Recent developments point to the increasing probability of material green hydrogen catalysts, Irwin said in a Wednesday note. Get the latest price and volume on Plug Power Inc in IBD stock charts. The Plug Power Analyst: Roth Capital Partners analyst Craig Irwin reiterated a Buy rating and $65 price target on Plug Power shares. (NASDAQ: PLUG) are trading well off the year-to-date high of $75.49 reached in late January. Shares of hydrogen and fuel cell manufacturer Plug Power Inc.
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